Price Level of Imports for Dominican Republic
PLMCPPDOA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.58
Year-over-Year Change
2.43%
Date Range
1/1/1951 - 1/1/2019
Summary
The Price Level of Imports for Dominican Republic measures the price changes of imported goods and services in the Dominican economy. This metric is important for analyzing the country's international trade dynamics and inflationary pressures.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Price Level of Imports index tracks the price changes over time for a representative basket of imported goods and services purchased in the Dominican Republic. It is used to assess the impact of foreign price changes on the domestic economy and inform trade and monetary policy decisions.
Methodology
The data is collected through surveys of import transactions and calculated as an index with a base year of 2010.
Historical Context
This import price index is closely monitored by the Central Bank of the Dominican Republic and international institutions to evaluate the country's external competitiveness and inflationary risks.
Key Facts
- The base year for the index is 2010.
- Import prices account for over 30% of the Dominican Republic's consumer price index.
- Fluctuations in this index can significantly impact the country's trade balance and economic growth.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Imports for Dominican Republic measures the price changes of imported goods and services in the Dominican economy.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for analyzing the country's international trade dynamics and inflationary pressures, which are crucial for informing trade and monetary policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of import transactions and calculated as an index with a base year of 2010.
Q: How is this trend used in economic policy?
A: This import price index is closely monitored by the Central Bank of the Dominican Republic and international institutions to evaluate the country's external competitiveness and inflationary risks.
Q: Are there update delays or limitations?
A: The data is published regularly with minimal update delays, providing a timely and reliable indicator of import price trends in the Dominican Republic.
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Citation
U.S. Federal Reserve, Price Level of Imports for Dominican Republic (PLMCPPDOA670NRUG), retrieved from FRED.